In Unprecedented Move, China Plans To Pay For Oil Imports With Yuan Instead Of Dollars

Just days after Beijing officially launched Yuan-denominated crude oil futures (with a bang, as shown in the chart below, surpassing Brent trading volume) which are expected to quickly become the third global price benchmark along Brent and WTI, China took the next major step in the challenging the Dollar’s supremacy as global reserve currency (and internationalizing the Yuan) when on Thursday Reuters reported that China took the first steps to paying for crude oil imports in its own currency instead of the US Dollars.

Unprecedented Show of Force: US Sends B-1Bs, F-35s to Korea A day after President Donald Trump finally broke his silence on North Korea after the isolated nation twice provoked its geopolitical adversaries in the span of just four days, Yonhap is reporting that the US sent four F-35B stealth jets...